Wakefield, New Hampshire 2nd Quarter 2013 Market Report

The community of Wakefield, NH like many other Lakes Region communities continues to experience a slow market with an abundance of active listings and too few buyers.  Market activity is all over the board…new listings down, sales up or equal, values down or the same; every indicator indicates caution and scrutiny on the part of today’s buyers.  Seller motivation continues to be strong while we remain in a five year plus “buyers market”.  Carroll County’s second home/resort communities continue to drag behind the State’s overall market indicators.  There are currently 136 actively listed home; 30 offer water frontage and/or water access; 74 vacant land parcels; 5 condominium units and 10 commercial use properties.  It’s continues to be a buyer’s market…now we just need the buyers!

2^nd Quarter 2013 vs. 2^nd Quarter 2012 Residential Markets

• 127 New Listings… down 9.92%    
• 40 Pending Sales…down 14.49%
• 44 Residential Homes resulted in a successful close…equal with last year’s 2^nd quarter
• Median Priced Sold Homes…$137,500., down 8.63%  
• Average DOM (Days on the Market) 171 up 22.57% or 32 days   
• Lowest Residential Sale… 220 Main Street, Wakefield $28,000 | .16 acres   
• Highest Residential Sale…68 Leisure Drive, Wakefield $650,000 | 1.10 acres w/103’ water frontage on Great East Lake

2^nd Quarter 2013 vs. 2^nd Quarter 2012 Condominium Market

• 8 New Listings…up 166.66%
• 1 Pending Sales…equal with last year’s 2^nd quarter
• 2 Condominiums resulted in a successful close…up 200%
• Median Price Sold Condo…$215,000…no sales last year’s 2^nd quarter
• Average DOM 33
• Lowest Condominium Sale…181 Michawanic Drive, Unit #7-A, Wakefield $210,000.  (End unit) 
  
• Highest Condominium Sale…207 Michawanic Drive Unit D, Wakefield $220,000. (End unit)

2^nd Quarter 2013 vs. 2^nd Quarter 2012 Vacant Land Market

• 46 New Listings…up 21.05%
• 10 Pending Sales…up 66.66%
• 8 Vacant parcels resulted in a successful close…up 100%  
• Median Price of vacant parcels…$49,500., down 1%
• Average DOM (Days on the Market) 806…up 198.37%   
• Lowest Vacant Land Parcel…138 Access Road, Wakefield $20,000 | 2.44 acres w/existing foundation, well & septic system       
• Highest Vacant Land Parcel…Lot 44 Point Road, Wakefield $80,000 |.33 acres w/64’ water frontage on Province Lake     

2^nd Quarter 2013 vs. 2^nd Quarter 2012 Commercial/Industrial Market

• 6 New Listings… up 50%
• 1 Pending Sales…down 50%
• 1 Commercial properties resulted in a successful close…up 100% over last year’s 2^nd quarter
• Median Priced of Commercial Property…$195,000., up 100%  
• Average DOM (Days on the Market) 385…
• Lowest Commercial Property Sale… 26 High Street, Wakefield $195,000 | .23 acres w/70’ of road frontage
• Highest Commercial Property Sale…

Based on information from (NNEREN) Northern New England Real Estate Network, Inc. | January 1^st through June 30^th, 2012 & January 1^st through June 30^th, 2013. 

Contributed by Kathleen M. Kizer, ABR, GRI, ePRO, REALTOR, Broker Associate, Costantino Real Estate, LLC | Certified Residential Appraiser, NHCR-616 | Wolfeboro Appraisal Services “Your Lakes Region Professional”

For further inquiries or questions please e-mail to Kathleen@LakesRegionBroker.com. Call direct at 603-539-3200, ext. 208 or 603-707-2753.